Long-benched investment dollars may be getting back in play
Lewis DiuguidSure gasoline prices have jumped. Those numbers worry consumers because the effect on discretionary spending is immediate.
But the data that should be encouraging actually has a lot of bling to it. Gold prices have dropped below $1,600 an once.
It had been above $1,700 as the Great Recession and lingering bad economy boiled, evaporating wealth from the stock market, pension and other retirement funds, and the equity that people had in their homes. The drop in gold’s value signals that money planted in that precious metal for safe harbor is getting back in the stock market, businesses and housing industries.
Indeed home sales are up, and the Dow in 2013 has teased its way above 14,000 on a few occasions and is flirting with new highs.
More jobs and bigger drops in unemployment can’t be far behind. Can you say, “Happy days are here again….”
Matt Henry
3 months agoOkay, did he just actually say “happy days are here again?” With a contraction last quarter? Real unemployment still way up into double digits? People still dropping out of the workforce in droves? And why is gold down and the stock market up? Is it because the fed is still adding (at least) $85billion a month to the money supply with no foreseeable end in sight?
You can make a case things are getting better. You’d be hard pressed to make it stick, but the argument is there. But “happy days are here again?” I’m keeping this one in the bank for evidence when LWD or the Star board argues that they are not propagandists.